Airbus warns of potential financial hit from fraud probes /

Paris, Oct 31:European aircraft maker Airbus said Tuesday that investigations into fraud, bribery and corruption by the French and British authorities could impact its earnings. Airbus also said in a statement it was still battling delivery problems of the new fuel-efficient engines for its A320 neo jet, even if tailwinds from exchange rate effects boosted its bottom line in the third quarter. “The investigations initiated by the UK’s Serious Fraud Office (SFO) and France’s Parquet National Financier (PNF)… could have a material impact on the financial statements, business and operations of Airbus,” the statement said. “However, at this stage it is too early to determine the likelihood or extent of any such possible consequence.” Airbus is being investigated in France and Britain for alleged irregularities concerning third-party consultants that the company itself detected and alerted to the authorities. The plane maker is also under investigation in Austria and Germany for possible corruption related to the sale of Euro fighter jets to Austria.

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